Benchmark Electronics (NYSE:BHE) Shares Gap Up After Analyst Upgrade

Benchmark Electronics, Inc. (NYSE:BHEGet Free Report) gapped up before the market opened on Thursday after Needham & Company LLC raised their price target on the stock from $48.00 to $50.00. The stock had previously closed at $43.64, but opened at $46.00. Needham & Company LLC currently has a buy rating on the stock. Benchmark Electronics shares last traded at $44.80, with a volume of 43,632 shares.

Separately, StockNews.com upgraded Benchmark Electronics from a “hold” rating to a “buy” rating in a research report on Tuesday, January 7th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $43.00.

Read Our Latest Stock Report on BHE

Insider Buying and Selling

In other news, SVP Rhonda R. Turner sold 6,000 shares of the stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $46.98, for a total value of $281,880.00. Following the completion of the sale, the senior vice president now owns 47,991 shares of the company’s stock, valued at approximately $2,254,617.18. This represents a 11.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jeff Benck sold 24,000 shares of Benchmark Electronics stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $45.90, for a total value of $1,101,600.00. Following the completion of the transaction, the chief executive officer now directly owns 424,173 shares in the company, valued at approximately $19,469,540.70. This represents a 5.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 36,000 shares of company stock valued at $1,655,340 over the last 90 days. 2.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Benchmark Electronics

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Quarry LP grew its holdings in Benchmark Electronics by 172.5% during the 2nd quarter. Quarry LP now owns 1,379 shares of the technology company’s stock worth $54,000 after acquiring an additional 873 shares during the period. KBC Group NV increased its holdings in Benchmark Electronics by 125.3% in the third quarter. KBC Group NV now owns 1,534 shares of the technology company’s stock worth $68,000 after purchasing an additional 853 shares in the last quarter. CWM LLC lifted its stake in Benchmark Electronics by 54.2% in the third quarter. CWM LLC now owns 1,706 shares of the technology company’s stock valued at $76,000 after buying an additional 600 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Benchmark Electronics by 161.3% during the 3rd quarter. GAMMA Investing LLC now owns 2,255 shares of the technology company’s stock worth $100,000 after buying an additional 1,392 shares in the last quarter. Finally, Highland Capital Management LLC acquired a new stake in shares of Benchmark Electronics during the 3rd quarter worth approximately $234,000. Institutional investors and hedge funds own 92.29% of the company’s stock.

Benchmark Electronics Stock Down 2.5 %

The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.45 and a current ratio of 2.36. The firm’s 50 day moving average price is $46.95 and its two-hundred day moving average price is $44.73. The company has a market cap of $1.53 billion, a P/E ratio of 24.74 and a beta of 1.00.

Benchmark Electronics (NYSE:BHEGet Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The technology company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.01). Benchmark Electronics had a net margin of 2.32% and a return on equity of 6.81%.

Benchmark Electronics Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st were paid a $0.17 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.68 dividend on an annualized basis and a yield of 1.60%. Benchmark Electronics’s dividend payout ratio (DPR) is presently 39.53%.

Benchmark Electronics Company Profile

(Get Free Report)

Benchmark Electronics, Inc, together with its subsidiaries, offers product design, engineering services, technology solutions, and manufacturing services in the Americas, Asia, and Europe. The company provides engineering services and technology solutions, including new product design, prototype, testing, and related engineering services; and custom testing and technology solutions, as well as automation equipment design and build services.

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